How Russia withstand western countries sanctions
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But the boom in Russia’s economy in the second quarter is a symbol of the fact that the effect of sanctions of Western countries is ending. It is believed that by next year Russia’s economy can reach the pre-war level. When Russia attacked Ukraine in February last year, Western countries had imposed many restrictions on it. Then many western countries had said that this would ruin Russia’s economy. But Russia has proved them wrong.
Modi’s support
Russian President Vladimir Putin while addressing the country said that we have saved our people while ensuring the economic stability of the country. Western countries failed to break the society of Russia. The question is how Russia’s economy remains strong despite the sanctions of the western countries. The biggest reason for this is the rise in the prices of oil and gas. Gas exports from Russia have declined by 25 per cent, but this has been offset by a rise in prices. After the Ukraine war, the European Union has cut the import of natural gas from Russia by 55%.
Its purpose was to weaken Russia economically. But Russia found new buyers in the form of Turkey, China and India. Today India’s maximum crude oil is coming from Russia. More than 2 million barrels of oil is coming to India daily from Russia. At one time Russia was giving strong discounts to Indian companies. It has declined in recent days but India says it will continue to import crude from Russia. Along with this, the Arms Industry and Agriculture also did not let the economy of Russia come down. Putin had claimed that by June 30, 2023, Russia would export 60 million tonnes of grain.
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